Cutting The Red Tape: In Sweeping Move, Trump Puts Regulation Monitors In U.S. Agencies

By David Shepardson and Steve Holland, Reuters

President Donald Trump signed an executive order on Friday to place "regulatory reform" task forces and officers within federal agencies in what may be the most far reaching effort to pare back U.S. red tape in recent decades.

Trump signed the directive in the Oval Office with chief executives of major U.S. corporations standing behind him including Dow Chemical Co (DOW.N), Lockheed Martin Corp (LMT.N) and U.S. Steel Corp (X.N).

The sweeping order directs every federal agency to establish a task force to ensure each has a team to research all regulations and take aim at those deemed burdensome to the U.S. economy and designate regulatory reform officers within 60 days and must report on the progress within 90 days.

"Excessive regulation is killing jobs, driving companies out of our country like never before," Trump said before signing the order. "Every regulation should have to pass a simple test; does it make life better or safer for American workers or consumers?"

The effort is part of a Republican push to undo many of the actions of former President Barack Obama, who left office last month after two four-year terms.

read more at reuters.com

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